3:26:32 PM | 7/8/2005
The Development Assistance Fund (DAF), which is tasked to provide soft loans to local businesses and key infrastructure projects in Vietnam, is planning to raise VND6.5 trillion (US$414 million) through government bond issues this year.
Details of the DAF’s bond issues were, however, not announced.
The mobilized money is to be invested into large-scale socio-economic programs and for supporting exporters.
Recently, the fund said it would offer VND3.5 trillion (US$222.9 million) in short-term lending to exporters this year.
DAF’s loans carry low interest rates of around 70 per cent of the rates offered by local commercial banks, which now stand around 10 per cent for one-year lending.
Over the last three years, the State-run fund raised VND13.2 trillion (US$841 million) for development investment in line with the Government’s policies.
The fund is now the biggest financial institution in
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